Press "Enter" to skip to content

How WazirX Rewarded Users on hitting 1 Million Registrations and Burning WRX worth 5 Crore INR

The Exchange ran Trading competitions, Trivia and Quiz based Giveaways as they hit major milestones in the last week.

WazirX, one of India’s largest exchange and Binance’s prized gem in Asia has completed several milestones this past week.

From Burning over 653k tokens to registering their Millionth user, the exchange has been breaking its own records.

The Milestones, Giveaways and Activities that WazirX Celebrated last week.

This crypto bull run has been kind to Indian Exchanges, especially the ones that stood strong in the past three years against Bearish Market, RBI Banking ban and several news reports on Crypto bans. While the exchanges rejoice, their users do so more with projects like WazirX continually bringing up ways for users to earn rewards.

Here’s what WazirX achieved in the past week.

1. WazirX Completes 3rd Quarterly WRX Burn

WRX is WazirX’s native Crypto token available on both BNB chain and Ethereum Blockchain, the IEO took place on Binance close to a year ago. The biggest use case of the token currently is the ability to use it to get 50% discount on trading fees.

Every quarter WazirX burns WRX tokens, which removes a certain supply of WRX tokens from the market and hence leading to reducing inflation on the token. Lesser supply may in turn appreciate the price as well.

This quarter WazirX burned 6,533,333 WRX equivalent to 5,08,96,885 INR (~ $648,367 USD)!

It was burned in four parts:

Part 1: 333 WRX burned. TXID here
Part 2: 3,000,000 WRX burned. TXID here
Part 3: 333,000 WRX burned. TXID here
Part 4: 3,200,000 WRX burned. TXID here

The amount of WRX burned in the third quarter is 96% more than the amount of WRX burned in the second quarter.

2. Reaching One Million Users

On January 18, WazirX announced they have 1 Million registered users on the platform. To celebrate the same, the exchange ran a host of giveaways which we will discuss further.

3. WazirX’s Flagship Trading Competition – Highest Trader Kaun

Between January 19 and 20, WazirX ran the Highest Trader Kaun contest for WRX/INR trading pair. The contest ran for 36 non stop hours.

The total prize giveaway was 2 lakh INR which will be distributed among 80 winners on February 1.

4. Quizzes and Trivia

As a Twitter lover myself, I don’t find myself lurking around on Instagram much. However, I did participate in the WazirX trivia contest that was held on instagram on January 21.

I did not win as I got one answer wrong, but those who did, received rewards worth 2500 INR.

Similarly, WazirX ran a “Quiz Time” on their own twitter handle @WazirXIndia on January 21 as well.

WazirX has been big with giveaways and staying true to that character, the exchange has followed suit for every new listing, some of them have been covered by us as well.

$500 Million Volume in 12 days.

While this did not happen last week, it is an important achievement as well. The Co-founder of WazirX, Siddharth shared WazirX’s volume over the last one year.

On January 12, WazirX had cross $500 Million in volume.

As huge supporters of the Indian Ecosystem, we want to congratulate WazirX for their achievements.

Want to discuss this more? Join us on telegram.

Be First to Comment

Leave a Reply

Your email address will not be published.

Latest Posts
Send this to a friend